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According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8 … Read more
The move comes after a judge expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network services while on bail. Go to Source Powered by WPeMatico
The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations. Go to Source Powered by WPeMatico
On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if … Read more
The suit is led by Edwin Garrison and was filed against “FTX influencers,” primarily on the YouTube platform. Go to Source Powered by WPeMatico
Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research. Go to Source Powered by WPeMatico
FTX’s legal counsel requested insurers to advance or reimburse Bankman-Fried’s defense costs and fees under the company’s directors and officers (D&O) insurance. Go to Source Powered by WPeMatico
Three wallets, reportedly associated with both FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC. Go to Source Powered by WPeMatico
JOMO is that “I-was-right-about-the-market” joyful feeling after narrowly escaping a bad trade and potentially catastrophic losses. Go to Source Powered by WPeMatico
Court cases involving the U.S. SEC and some major crypto industry enterprises – Voyager Digital, Alameda Research and Biance – have continued to progress throughout 2023. Go to Source Powered by WPeMatico
